Considered among the blooming markets, Real Estate Sector has seen a lot of investment in the previous years. Almost everyone is seen investing in this sector. Real estate in Mumbai offers great opportunity to everyone who is looking to diversify their profits. Real Estate in Mumbai is also considered as an expensive affair, but it is sure to make your investment count! Some of the reasons why one should invest in Real Estate in Mumbai are:
Benefits on Tax:
Purchasing a property is beneficial for long term Capital gains as the buyer receives tax exemptions from the government on buying a new property.
Financial Safety at times of Inflation:
Investing in Real Estate acts as protection against inflation, because it is among those investments where value increases along the increase in the currency value. Ever Increasing population and limited availability of land also plays a significant role in making this investment safe against inflation
Appreciates with time:
Another reason why one should invest in Real Estate is that it appreciates with time. For example the property valuations in Mumbai have increased by 47% over the last 3-4 years, the property rates have simply sky rocketed. All these factors contribute to turning your real estate development into an appreciating asset.
A great legacy to leave behind:
Real Estate is a permanent investment unless and until the owner decides to sell it. Even after the death of the owner, the property remains with the family. The future generation can likewise profit from this appreciating asset, making it a great legacy to leave behind.
Investing in Mumbai’s real estate guarantees additional income, this additional income is generated by renting the apartment. Renting is quite profitable, one can earn approx 20,000-25,000 by just renting their property. The rent price also depends on the location of the apartment, so location also plays an important role here. For example, if you are planning to buy a property just for renting then you should opt for projects that are nearby the commercial complexes or is well connected to the rest of the city and has a good public transport availability. Also, renting as a business venture is quite popular and extremely profitable.
Incurring a loss in real estate is very difficult, because the value of the property only increases with time. Consider yourself sitting on goldmine of an asset if you own a property in Mumbai, as Real Estate in Mumbai has seen rise since 2008 and the prices have always kept on increasing. A proper research is recommended before buying a property, prefer buying the property from a reputed builder to avoid being duped. The owner can also sell or rent a property to generate income.